Humacyte (NASDAQ:HUMA) Trading Down 3% – Time to Sell?

Shares of Humacyte, Inc. (NASDAQ:HUMA) fell 3% during mid-day trading on Tuesday . The company traded as low as $4.43 and last traded at $4.51. 3,525,988 shares traded hands during trading, an increase of 27% from the average session volume of 2,777,449 shares. The stock had previously closed at $4.65.

Analysts Set New Price Targets

A number of brokerages have commented on HUMA. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price objective on shares of Humacyte in a report on Friday, September 20th. D. Boral Capital reissued a “buy” rating and issued a $25.00 price target on shares of Humacyte in a research report on Friday, December 20th. Piper Sandler set a $6.00 price objective on Humacyte and gave the company a “neutral” rating in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price (up previously from $12.00) on shares of Humacyte in a research note on Friday, December 20th. Finally, Benchmark increased their target price on shares of Humacyte from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $13.71.

Humacyte Stock Performance

The company’s 50-day moving average is $4.76 and its two-hundred day moving average is $5.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.61. The company has a market cap of $567.62 million, a P/E ratio of -3.37 and a beta of 1.38.

Insider Activity

In other Humacyte news, Director Brady W. Dougan sold 427,459 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.34, for a total transaction of $1,855,172.06. Following the completion of the transaction, the director now owns 1,992,253 shares in the company, valued at $8,646,378.02. This trade represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laura E. Niklason sold 811,172 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.44, for a total transaction of $3,601,603.68. Following the completion of the sale, the chief executive officer now directly owns 2,419,712 shares in the company, valued at approximately $10,743,521.28. This trade represents a 25.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,500,000 shares of company stock valued at $6,606,799 in the last three months. Company insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Humacyte by 66.1% in the third quarter. State Street Corp now owns 4,764,155 shares of the company’s stock worth $25,917,000 after acquiring an additional 1,895,529 shares during the period. Geode Capital Management LLC grew its holdings in Humacyte by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,040,218 shares of the company’s stock valued at $11,101,000 after buying an additional 179,120 shares in the last quarter. Millennium Management LLC increased its position in shares of Humacyte by 504.3% during the second quarter. Millennium Management LLC now owns 1,599,307 shares of the company’s stock valued at $7,677,000 after buying an additional 1,334,641 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Humacyte by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 721,318 shares of the company’s stock valued at $3,924,000 after acquiring an additional 66,946 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Humacyte by 693.0% during the second quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock valued at $2,881,000 after acquiring an additional 524,600 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Humacyte Company Profile

Humacyte, Inc engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. The company using its proprietary and scientific technology platform to engineer and manufacture human acellular vessels (HAVs) to be implanted into patient without inducing a foreign body response or leading to immune rejection.